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Thread: Bull run!

  1. #1

    Bull run!

    Obama Renews Emphasis on Budget Cuts, Economy
    ECONOMY, GOVERNMENT, OBAMA
    The Associated Press
    | 06 Jun 2009 | 06:29 PM ET
    President Barack Obama wants agencies to lay out specific goals for economic stimulus spending over the next several months, a push to focus more on his $787 billion recovery plan.

    Obama and Vice President Joe Biden will discuss a renewed emphasis on reviving the economy with Cabinet members during a White House meeting Monday.

    In the wake of reports the recession could be subsiding, Obama wants to stress that agency heads should make economic recovery a priority during an expected jump in federal stimulus spending this summer, administration officials said. They spoke on condition of anonymity because they were not authorized to comment publicly on the plans.

    Biden told reporters Friday the administration would "ramp up" recovery efforts. His comments came just hours after the government announced that the unemployment rate for May was 9.4. percent, the highest in more than a quarter-century.

    Fewer jobs were lost than expected, but Biden said the White House won't be satisfied until monthly reports show jobs were being added.

    Obama's recovery spending isn't likely to satisfy Biden's hopes, although it should be credited with reducing the number of layoffs, said Ken Simonson, an economist with the Associated General Contractors of America.

    The construction industry is among the hardest hit by job losses, including steep drops in heavy construction and civil engineering work that relies on private and government spending. Federal stimulus spending has helped stem job losses, but not enough to make up for cuts in private investment and state and local spending, Simonson said.

    Obama's stimulus program has been criticized by congressional Republicans who argue it does too little and comes too late to revive the economy, and will do more long-term damage by increasing government debt.


    http://www.cnbc.com/id/31144128

  2. #2
    I think were in for a nice run up. Will have our corrections from time to time. But the economy looks like it hit bottom and will start to grow slowly for the rest of the year.

    I will say though. I think will start another recession some time in 2010. And it's going to be worse then the one were coming out of now.

    But I plan to make a lot of money on this run up.

  3. #3
    After reading that article I posted up top I thought obama might cut back on his spending and focus more on the economy. But as usual, he say's one thing and does the opposite.

    I see him raising taxes soon and keeping up his spending. So I think were going to see a big correction soon. But the charts tell me we might see 9200 on the dow first.

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